5 Terms
Home > Industry/Domain > Accounting > Auditing
Auditing
The systematic review and examination of an individual's or organization’s accounting records to verify their accuracy.
Industry: Accounting
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Auditing
Prospective financial statements
Accounting; Auditing
These are either financial forecasts or financial projections. Prospective financial statements may cover a period that has partially expired. Statements for periods that have completely expired are ...
Prospectus
Accounting; Auditing
A registration statement filed with the SEC includes audited financial statements (balance sheet, income statement, and statement of cash flows) for the previous three years. A prospectus contains ...
Proxy
Accounting; Auditing
A power of attorney granting a third party the right to a stockholder's vote. When management or others solicit proxies from stockholders, a copy of the proxy statement must be filed with the SEC ten ...
Purchase order
Accounting; Auditing
A document from a buyer to a seller placing an order and listing quantities and specifications.
Qualified
Accounting; Auditing
(qualify) An audit opinion that the financial statements as a whole are presented in conformity with U.S. GAAP, with the exceptions noted.
Qualitative
Accounting; Auditing
Relating to the quality of a trait, as opposed to quantitative, which means expressed as a number.
